Which players can Coventry City owners buy with £2.8m they saved from not buying Ricoh Arena?

Tim Fisher and Joy Seppala at the Ricoh ahead of the Sky Blues' homecoming match against Gillingham

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Premiership rugby club Wasps has today completed the 100 per cent takeover of Ricoh Arena operating firm ACL after buying the Alan Edward Higgs Charity’s shares in the company for £2.77million.

Coventry City FC’s owners have claimed they bid £2.8m for a share of the venue, but have since reacted with "extreme disappointment" to the news that their last ditch attempt has failed.

The club say that they are still determined to reveal plans for a new stadium in the "near future", but here are ten additions to the playing staff that the club could make in an attempt to climb to the Sky Bet Championship with the money they have saved.

Lukas Jutkiewicz

Lukas Jutkiewicz

Burnley's new striker has failed to net for the Turf Moor side during their pedestrian start to life in the Premier League.

The former Sky Blues man signed for his new club for a fee believed to be in the region of £2.25m after a productive loan spell at Championship side Bolton Wanderers in which he shone by scoring seven times in 20 appearances.

Moses Odubajo

The Sky Blues are in need of a regular fixture at right-back, and Moses Odubajo of Brentford could act as a remedy for Steven Pressley's side's defensive frailties.

Tottenham Hotspur, West Ham United and Hull City were all courting the defender during the summer, but he eventually signed for Brentford for a fee of around £1 million with additional clauses.

Craig Davies

With tough competition from Joe Mason and Max Clayton at The Macron Stadium, Bolton Wanderers' Welsh international Craig Davies could be forced to leave the club to find first-team opportunities.

He has appeared for Preston North End on a loan basis, but with a new manager now at the helm in the shape of former Celtic boss Neil Lennon, you'd expect players to depart from the Lancashire side come January.

Conor Washington

Coventry City's Jordan Willis and Peterborough's Conor Washington

Peterborough's next big thing has set pulses racing at London Road with his finishing ability.

Taking the baton from the departing Britt Assombalonga with aplomb, Washington has bagged six goals already this campaign and would bring much-needed goals to the Coventry City front-line.

Posh have previously sold George Boyd, Craig Mackail-Smith and the aforementioned Assombalonga - but only at the right price.

Michael Smith

Swindon Town signed Michael Smith for just £100,000 back in January - and what a signing that looks to be now.

The towering frontman has a goals-to-game ratio of 1 in 2, with 16 goals in 32 appearances for the Robins.

The Geordie will be hoping to ply his trade in the Championship next term, of course, but if Swindon fail in their promotion attempt, it would be wise for League One clubs to tempt the 23-year-old star away from the County Ground.

With Coventry City's Marcus Tudgay, Simeon Jackson, Josh McQuoid and Shaun Miller failing to stake a claim in the first team, the need for goals is becoming imperative for the Ricoh Arena side.

Gary Roberts

The 30-year-old Chesterfield winger is proven at lower league level, with 13 goals in 40 games for his current club hinting that he could provide goals from midfield along with the creative duo of John Fleck and Jim O'Brien.

The Liverpool-born star was even named in the PFA League Two Team of the Year for 2013-14.

Paddy Madden

The Irishman signed for Scunthorpe United in January for an estimated fee of £300,000.

His two-and-a-half year contract will certainly be under scrutiny if the Iron fail to stay up this term (although, our sports writer Aidan McCartney protests that they will be fine).

With five goals already this season, Madden has been a shining light for Mark Robins' new club.

Leon Clarke

The former Coventry City man has only appeared four times for high-flying Wolverhampton Wanderers so far this season - though it's unlikely that Steven Pressley would call on the 29-year-old striker given his acrimonious exit from the club.

"But when we allowed him to go to Wolves the decision wasn’t made purely on football considerations; there were one or two other factors that came into it and I felt it was the right time for both parties to move on."

Frank Nouble

Frank Nouble scores the Sky Blues second goal. Photo: Joe Bailey.

The big man up front sealed Coventry's 2-0 victory over League Two side Plymouth in the Johnstone's Paint Trophy during midweek, leading to chants from the Sky Blue Army.

"Sign him up! Sign him up!" they chanted. Pressley would be wise to consider it given Nouble's impact since signing on a loan basis from Ipswich Town.

A nine-week loan of Wayne Rooney

With just under £3m to play with, SISU could pay Wayne Rooney's wages for nine weeks.